Bain Capital Specialty Finance, Inc. (BCSF) Income Statement
BCSF 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBCSF revenue and net income
Where BCSF's revenue goes
2025Each bar shows an amount and its share of revenue. BCSF kept 41.3% of revenue as net income.
BCSF profit margins
BCSF growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +12.4% | +27.1% | +76.6% | — |
| Gross profit | +33.1% | +16.4% | +67.6% | — |
| Operating income | +46.0% | +4.5% | +84.3% | — |
| Net income | −17.3% | −2.2% | +64.2% | — |
| EPS (diluted) | −10.0% | +4.4% | +5.2% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BCSF quarterly EPS vs estimates
Bain Capital Specialty Finance beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 9, 2026 (estimate $0.44).
BCSF income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $239.2M | $212.9M | $218.0M | $116.5M | $124.1M | $13.9M | $94.7M | $73.6M | $24.5M | $2.1M |
| Cost of revenue | $55.3M | $74.7M | $80.0M | $54.2M | $49.6M | $36.3M | $107.8M | $514,037 | $3.7M | $923,610 |
| Gross profit | $183.9M | $138.2M | $138.0M | $116.5M | $124.1M | $13.9M | $94.7M | $73.1M | $20.8M | $2.1M |
| Research & development | — | — | $0 | $0 | $1 | $0 | $0 | $0 | $1 | $1 |
| Sales, general & admin | $11.28B | $14.3M | $11.3M | $9.4M | $8.6M | $8.8M | $7.6M | $3.8M | $2.7M | $602,544 |
| Total operating expenses | $3.0M | $14.3M | $11.3M | $10.2M | $4.1M | $5.4M | −$3.4M | $19.4M | $3.1M | $710,067 |
| Operating income | $180.9M | $123.9M | $126.7M | $158.6M | $119.9M | $8.5M | $98.1M | $69.3M | $18.2M | $619,619 |
| Interest income | $211.8M | $222.2M | $220.8M | $166.3M | $167.3M | $183.0M | $180.4M | $73.4M | $24.4M | $868,550 |
| Interest expense | $80.6M | $74.7M | $80.0M | $52.3M | $51.3M | $63.3M | $66.3M | $24.0M | $3.6M | $10,644 |
| Income before taxes | $102.5M | $123.9M | $126.7M | $106.3M | $119.9M | $8.5M | $98.1M | $26.6M | $19.3M | $608,975 |
| Income taxes | $3.8M | $4.5M | $3.4M | $837,000 | $134,000 | $232,000 | $84.7M | $309 | $4,882 | $635,990 |
| Net income | $98.8M | $119.4M | $123.4M | $105.5M | $119.8M | $8.3M | $98.1M | $26.6M | $19.3M | $608,975 |
| EBITDA | $188.3M | $123.9M | $126.7M | $159.0M | $92.0M | $8.5M | $98.1M | $50.7M | $23.2M | $619,619 |
| EPS (diluted) | $1.88 | $2.09 | $2.16 | $1.65 | $1.36 | $1.46 | $1.64 | $1.36 | $0.32 | $0.03 |
| Gross margin | 76.9% | 64.9% | 63.3% | 100.0% | 100.0% | 100.0% | 100.0% | 99.3% | 84.8% | 100.0% |
| Operating margin | 75.6% | 58.2% | 58.1% | 136.2% | 96.7% | 61.2% | 103.6% | 94.1% | 74.1% | 29.3% |
| Net margin | 41.3% | 56.1% | 56.6% | 90.5% | 96.6% | 59.5% | 103.6% | 36.2% | 78.7% | 28.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $45.3M | $53.6M | $51.0M | $42.7M | $49.4M | $52.0M | $48.0M | $55.7M | $51.6M | $57.6M | $54.9M | $58.4M |
| Cost of revenue | $9.8M | $14.7M | $19.6M | $20.3M | $21.8M | $18.9M | $20.9M | $18.1M | $17.6M | $18.1M | $19.2M | $20.8M |
| Gross profit | $35.5M | $38.9M | $31.4M | $22.4M | $27.6M | $33.1M | $27.1M | $37.6M | $33.9M | $39.5M | $35.6M | $37.7M |
| Sales, general & admin | $2.4M | $2.8M | $2.9M | $2.9M | $2.8M | $3.5M | $3.7M | $3.5M | $3.7M | $3.4M | $3.5M | $3.2M |
| Total operating expenses | −$1.1M | $14.2M | $2.9M | $2.9M | $2.8M | $3.5M | $3.7M | $3.5M | $3.7M | $3.4M | $3.5M | $3.2M |
| Operating income | $36.6M | $24.6M | $28.6M | $19.5M | $24.8M | $29.6M | $23.4M | $34.1M | $30.2M | $36.1M | $32.1M | $34.5M |
| Interest income | $45.2M | $49.4M | $52.8M | $54.0M | $54.2M | $50.8M | $56.1M | $55.4M | $55.1M | $55.6M | $56.3M | $57.2M |
| Interest expense | $20.7M | $20.3M | $19.6M | $20.3M | $21.8M | $18.9M | $20.9M | $18.1M | $17.6M | $18.1M | $19.2M | $20.8M |
| Income before taxes | $14.8M | $4.3M | $28.6M | $19.5M | $24.8M | $29.6M | $23.4M | $34.1M | $30.2M | $36.1M | $32.1M | $34.5M |
| Income taxes | $732,000 | $906,000 | $800,000 | $801,000 | $1.1M | $1.1M | $1.3M | $1.0M | $1.1M | $1.0M | $1.0M | $640,000 |
| Net income | $14.1M | $3.4M | $27.8M | $18.7M | $23.7M | $28.5M | $22.1M | $33.1M | $29.1M | $35.1M | $31.1M | $33.9M |
| EBITDA | $35.5M | $26.1M | $29.9M | $20.9M | $24.8M | $29.6M | $23.4M | $34.1M | $30.2M | $36.1M | $32.1M | $34.5M |
| EPS (diluted) | $0.44 | $0.42 | $0.46 | $0.45 | $0.47 | $0.50 | $0.52 | $0.53 | $0.51 | $0.53 | $0.51 | $0.55 |
| Gross margin | 78.4% | 72.5% | 61.6% | 52.4% | 55.9% | 63.6% | 56.5% | 67.5% | 65.8% | 68.6% | 65.0% | 64.5% |
| Operating margin | 80.7% | 46.0% | 56.0% | 45.7% | 50.2% | 57.0% | 48.8% | 61.2% | 58.7% | 62.7% | 58.5% | 59.0% |
| Net margin | 31.0% | 6.3% | 54.4% | 43.8% | 48.0% | 54.9% | 46.1% | 59.4% | 56.4% | 60.9% | 56.6% | 57.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BCSF's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BCSF financial results
In fiscal year 2025 (ended December 31, 2025), Bain Capital Specialty Finance reported revenue of $239.2 million, up 12.4% from the year before. It had net income of $98.8 million (down 17.3%), a net profit margin of 41.3%. Diluted earnings per share came to $1.88. Over five years revenue grew at an average rate of 76.6% a year.
See the BCSF stock overview for the latest quote and news, or the BCSF chart for price history and technical indicators.
BCSF income statement FAQ
What is Bain Capital Specialty Finance's annual revenue?
Bain Capital Specialty Finance reported total revenue of $239.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 12.4% from $212.9 million the previous year.
Is Bain Capital Specialty Finance profitable?
Yes. Bain Capital Specialty Finance reported net income of $98.8 million in fiscal 2025, a net profit margin of 41.3%; its operating margin was 75.6%.
What is Bain Capital Specialty Finance's gross margin?
Bain Capital Specialty Finance's gross margin was 76.9% in fiscal 2025: for every $100 of revenue, Bain Capital Specialty Finance kept $77 after the direct cost of its products and services.
How fast is Bain Capital Specialty Finance growing?
Revenue grew 76.6% a year on average over the last five fiscal years, from $13.9 million to $239.2 million.
What are Bain Capital Specialty Finance's earnings per share?
Bain Capital Specialty Finance earned $1.88 per diluted share in fiscal 2025, compared with $2.09 a year earlier.
When will Bain Capital Specialty Finance report its next earnings?
Bain Capital Specialty Finance is expected to report results for the quarter ending September 30, 2026 on November 9, 2026 after the market closes.
When does Bain Capital Specialty Finance's fiscal year end?
Bain Capital Specialty Finance's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.